Tag: RBI

Reserve Bank of India (RBI) offered a $5-billion swap facility to banks to aid liquidity before the end of the financial year. The auction will happen on March 26 and the buy/sell swap will run up to March 28, 2022,…

The central bank had listed four objections to the overnight notes ban announced by PM Modi before agreeing to it “in larger public interest”, an RTI reply has revealed. Reserve Bank of India (RBI) board had warned about the short-term…

Heads of public and private sector banks told Reserve Bank of India (RBI) governor Shaktikanta Das that it will be difficult to pass on the benefits of the repo rate cut to borrowers immediately, it will take time. “We gave…

In a major policy shift, the six member monetary policy committee (MPC) headed by Governor Shaktikanta Das on Thursday lowered the repo rate by 25 basis points to 6.25 per cent in a 4-2 vote. RBI has thus cut rate…

Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on Citibank India. National Bank fined for not complying with directions regarding the ‘fit-and-proper criteria’ for directors of the bank. According to RBI statement, ‘ the action…

According to a former central bank chief now heading a panel tasked with framing guidelines for the transfer of the RBI’s surplus funds to the government, says, ‘Reserve Bank of India is accountable to the government and should make policies…

Government is working with the Reserve Bank (RBI) to look into cases of financial frauds involving amounts which are below Rs. 1 lakh, IT (information technology) Minister Ravi Shankar Prasad said in the Rajya Sabha on Friday. A Financial Data…

A parliamentary committee suggested suspending the new international accounting standards for Indian banks and extending time to implement Basel-III norms. The Parliamentary Standing Committee on Finance has said that the higher than global capital norms for Indian banks are unrealistic…

f you have an old debit card, brace for some inconvenient time in New Year from January 1, 2019. If you are using an old credit or Debit/ATM card, chances are it may not work from tomorrow. This is because…

Reserve Bank of India expects bad loans in the system to fall by March, suggesting that the stress Indian lenders have been facing will start to ease after three years. The gross non-performing ratio of Indian banking system will drop…

Rupee lost 26 paise against the US dollar in early trade on Wednesday ahead of the outcome of the fifth bi-monthly policy review of Reserve Bank of India. Investors were treading the cautious path ahead of the RBI policy decision….

Reserve Bank of India (RBI) said it would inject Rs 10,000 crore into the system through purchase of government securities on December 6 to increase liquidity. The purchase will be made through open market operations (OMOs). “Based on an assessment…

Reserve Bank has “more than adequate” reserves and that it can transfer over Rs 1 trillion to the government after a specially constituted panel identifies the “excess capital”, says a report. An RBI board meeting had last on Monday decided…

Reserve Bank of India’s board met for more than nine hours in Mumbai. Government and RBI meet middle of an unprecedented power tussle. Sources say the meeting, which brought RBI chief Urjit Patel face-to-face with several nominees of the government,…

Rift is going on between RBI and Government, government is set to play out at the RBI’s crucial board meeting on Monday, Finance Ministry nominees and some independent directors expected to take on Governor Urjit Patel and his team over issues…

Reserve Bank of India (RBI) would inject Rs. 12,000 crore into the market by purchasing government securities on November 15, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in…

Reserve Bank of India (RBI) Governor Urjit Patel could resign at the central bank’s next board meeting on November 19, online leading financial publication reported on Wednesday, citing sources in touch with the governor. The government and the RBI have…

The tussle between the central bank and the government going on, amidst that, Reserve Bank of India Governor Urjit Patel has been served a show-cause notice by the Central Information Commission, the Right to Information watchdog, for “dishonouring” a Supreme…

Reserve Bank of India (RBI) official warned that “governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory…

RBI’s deadline for global financial technology (fintech) companies to comply with its data localisation norms kicks in on Monday. Senior officials said the deadline will not be deferred despite requests from foreign companies as they have already been given six…

Market expected that Reserve Bank of India will hike interest rates on the money it lends to bank, but RBI on Fridayrefrained from raising (repo rate, unchanged at 6.5%). Urjit Patel, governor of RBI, said in a post policy press conference, “We…

Bandhan Bank on Friday said the Reserve Bank of India (RBI) has cancelled the permission given to it for opening new branches, on account of its inability to bring down shareholding of non-operative financial holding company (NOFHC) to 40 per…

Reserve Bank of India (RBI) on Wednesday said that as much as 99.3 per cent of the demonitised Rs 500 and Rs 1000 notes worth Rs 15.31 lakh crore have returned to the banking system. The RBI, in its Annual…

Dr A Sakthivel, Regional Chairman, Federation of Indian Exports Organisations, Southern Region on Wednesday urged RBI that the export sector should be brought under priority lending by Banks. While reacting to the Monitory Policy announced by RBI, Dr Sakthivel cited…

The 25 basis points increase in the interest rates by the Reserve Bank of India on Wednesday is a big negative for exporters, as they would become less competitive in a tough global market that is already facing the threat…

The Reserve Bank of India (RBI) and the Finance Ministry should work in unison to ensure that rupee does not face any more significant fall from the current levels, as the country could then be subjected to ‘imported inflation’ resulting …

Reserve Bank of India Governor Urjit Patel has said the Central bank does not have adequate power to check a fraud like the Nirav Modi episode. It is, Mr Patel said, impossible for the RBI to monitor each and every…

The Reserve Bank of India on Monday suggested the minimum level of loan component of 40 per cent for borrowers having aggregate fund based working capital limit of Rs.150 crore and above from the Banking system effective from October 1….

The Reserve Bank of India (RBI) on Wednesday raised its key policy as the Repo rate by 25 bps to 6.25 per cent, in its second bi-monthly meeting of this fiscal. The reverse repo rate under the LAF stands adjusted…